BP will dump its 20% stake in Russian oil giant Rosneft

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BP will dump its 20% stake in Russian oil giant Rosneft
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BP is cutting ties with Rosneft in response to Russia's invasion of Ukraine.

The British company said in a statement Sunday that it would exit its 19.75% stake in the Russian state oil giant, describing Moscow's decision to attack its neighbour as "an act of aggression which is having tragic consequences across the region."

BP chair Helge Lund said that the company had operated in Russia for over 30 years and worked with "brilliant" colleagues there.

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